Lately we’ve been touching on the “how to’s” of bitcoin as well as what it is exactly. Read our previous article for a more in depth understanding.
So, what is a digital asset exchange?
A cryptocurrency exchange or a digital asset exchange is a business that allows customers to trade cryptocurrencies or digital assets for other assets, such as conventional fiat money or other digital assets. A cryptocurrency exchange can be a market maker that typically takes the bid-ask spreads as a transaction commission for its service or, as a matching platform, simply charges fees.
How does a crypto exchange work?
A digital asset exchange, for example ChainEX; exchanges electronically transferred money and digital assets. Exchanges may accept various forms of payment in exchange for digital assets or cryptocurrencies.
The exchanges allow users to trade using their platform, and can send cryptocurrency to a user’s personal cryptocurrency wallet.
Interesting. So how do I benefit?
Secondly, exchanges like ChainEX also offer a referral program! Earn more by referring your people to the platform too!
Whoa, wait a minute… Is all of this safe?
Actually, yes. Bitcoin in itself, is safe. Who you decide to invest your money with in order to obtain bitcoins however, is everyone’s own responsibility. Hackers, thieves and scammers (as with anything valuable) will always be after your assets. So securing your bitcoins is important.
ChainEX, a Digital Asset Exchange, provides Two-Factor Authentication (2FA), secure cloud access and a secure connection, among other security measures. You can rest assured knowing that all information and data passed between you and the ChainEX platform, is transferred securely. Find out more about ChainEX security.
Okay, I hear you. But who is this “ChainEX” you keep mentioning?
ChainEX is a South African digital asset exchange that provides a platform for South Africans to buy, sell or trade a variety of different digital assets using the South African rand as the default fiat-buying currency for some.
ChainEX provides you with a secure, online platform from which you can purchase and trade with different digital assets.